The pressure on the side of the tire is a max pressure for fully loaded with a passenger. I never have a passenger, but ride with hard bags all the time. I run 28-32 front, 30-34 rear. It amazes me how high of pressures people are running these days. When I talked to a Michelin tech this year, he said they were removing the pressure on the sidewalls next year because everyone thought those were standard operating pressures. Run what you like, but I wouldn't exceed 35 unless my wife was on the back.
Amen to that. I run 32 MIN to 35 MAX on the street -one up. Both tires the same. I weigh 250. On the track it 30 to 32. 42 is way too high. It reduces the contact patch significantly. 30 will increase wear though (OK with me).